Guatemala: Polishes For Coachwork Market 2024

Polishes For Coachwork Market Size in Guatemala

In 2022, the Guatemalan polishes for coachwork market decreased by -9.1% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption saw a perceptible contraction. Over the period under review, the market attained the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Polishes For Coachwork Production in Guatemala

In value terms, polishes for coachwork production totaled $X in 2022 estimated in export price. Over the period under review, production continues to indicate a perceptible slump. The most prominent rate of growth was recorded in 2019 with an increase of 20%. Polishes for coachwork production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Polishes For Coachwork Exports

Exports from Guatemala

Polishes for coachwork exports from Guatemala skyrocketed to X tons in 2022, increasing by 16% against 2021. Overall, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2013 with an increase of 142% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, polishes for coachwork exports soared to $X in 2022. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2021 with an increase of 90%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Costa Rica (X tons), El Salvador (X tons) and Nicaragua (X tons) were the main destinations of polishes for coachwork exports from Guatemala, together comprising 90% of total exports.

From 2012 to 2022, the biggest increases were recorded for Costa Rica (with a CAGR of +53.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polishes for coachwork exported from Guatemala were Costa Rica ($X), Honduras ($X) and El Salvador ($X), with a combined 85% share of total exports.

Costa Rica, with a CAGR of +54.0%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average polishes for coachwork export price amounted to $X per ton, with an increase of 3.9% against the previous year. Overall, the export price, however, continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2014 when the average export price increased by 59% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Nicaragua ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+19.8%), while the prices for the other major destinations experienced more modest paces of growth.

Polishes For Coachwork Imports

Imports into Guatemala

In 2022, after two years of growth, there was significant decline in supplies from abroad of polishes for coachwork, when their volume decreased by -11.5% to X tons. Overall, total imports indicated a moderate expansion from 2012 to 2022: its volume increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +45.2% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of 75% against the previous year. As a result, imports attained the peak of X tons, and then dropped in the following year.

In value terms, polishes for coachwork imports soared to $X in 2022. In general, imports, however, recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest polishes for coachwork supplier to Guatemala, with a 63% share of total imports. Moreover, polishes for coachwork imports from the United States exceeded the figures recorded by the second-largest supplier, Peru (X tons), sevenfold. The third position in this ranking was taken by Costa Rica (X tons), with a 6.2% share.

From 2012 to 2022, the average annual growth rate of volume from the United States stood at +6.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+35.9% per year) and Costa Rica (-15.1% per year).

In value terms, the United States ($X) constituted the largest supplier of polishes for coachwork to Guatemala, comprising 83% of total imports. The second position in the ranking was held by Costa Rica ($X), with a 3.6% share of total imports. It was followed by Germany, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +11.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Costa Rica (-11.0% per year) and Germany (+19.8% per year).

Import Prices by Country

The average polishes for coachwork import price stood at $X per ton in 2022, growing by 50% against the previous year. Overall, import price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Peru ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+9.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform